U-Ming Welcomes 64,000 DWT Ultramax Energy-Saving Vessel "Asian Progress" to Its Fleet

U-Ming Marine Transport Corporation (2606), one of the top ten listed companies under the Far Eastern Group, has welcomed the addition of the 64,000 DWT Ultramax bulk carrier, M.V. "Asian Progress," to its fleet. The vessel was built by New Dayang Shipbuilding Co., Ltd. as part of an order for four Ultramax bulk carriers commissioned by U-Ming Marine Transport (Singapore) Pte. Ltd., a subsidiary of U-Ming Marine Corporation.

M.V. "Asian Progress", the fourth vessel in the series, held its naming and delivery ceremony today (March 10) in Yangzhou, China. The event was personally presided over by Chairman Douglas Hsu of the Far Eastern Group and Mrs. Paola Terreni, wife of Mr. Giacomo Carminati, the member of the European Chamber of Commerce Taiwan, as the ship's naming sponsor. The event garnered the presence of numerous esteemed business associates and distinguished guests, underscoring the significance of this occasion and reaffirming the strong partnership between U-Ming and New Dayang Shipbuilding.

M.V. "Asian Progress" has a length of 199.90 meters, a beam of 32.26 meters, and a deadweight of 64,000 tons. Its innovative design aligns with U-Ming's commitment to energy efficiency and environmental protection, significantly exceeding the International Maritime Organization (IMO) Energy Efficiency Design Index (EEDI) requirements.

The vessel features Hempel X8 high-performance coating, which effectively reduces biofouling and hull resistance, improving fuel efficiency and reducing fuel consumption by 5% to 8%. Additionally, it is equipped with U-Ming’s self-developed Fleet Safety Management (FSM) system, which transmits real-time operational and meteorological data back to the company's shore-based monitoring center. This enhances vessel efficiency, reduces failure rates, and improves operational performance. The FSM system has earned SMARTShip certification from the American Bureau of Shipping (ABS) and has also been recognized with the Maritime Safety Award from the Maritime and Port Authority of Singapore.
Furthermore, the vessel has been awarded the LNG-Ready classification, allowing for future conversion to liquefied natural gas (LNG) fuel, aligning with U-Ming's long-term carbon reduction goals and commitment to sustainable shipping development.

In response to the International Maritime Organization’s (IMO) 2050 net-zero greenhouse gas emissions goal, U-Ming continues to renew its fleet and is dedicated to promoting an environmentally friendly transformation of its vessels. While expanding its fleet, U-Ming aims to design new ships with energy-saving and eco-friendly concepts to reduce carbon emissions and enhance operational efficiency. U-Ming is also actively researching and developing sustainable fuel alternatives to ensure greener and more environmentally friendly future operations.

U-Ming places great emphasis on Environmental, Social, and Governance (ESG) principles and was the first Taiwanese shipping company to publish an independent TCFD (Task Force on Climate-Related Financial Disclosures) report last year. The company has been included in the FTSE4Good Emerging Index and the FTSE4Good TIP Taiwan ESG Index for multiple consecutive years. In 2024, U-Ming received two major accolades from the Taiwan Academy of Corporate Sustainability (TCSA):

• Top 100 Sustainable Companies Award
• Platinum Award for Sustainability Reporting

Additionally, U-Ming was awarded the 2024 ESG Transportation and Sustainability Gold Award, jointly organized by the Taipei Transportation and Cultural Education Foundation and the Taiwan Global Business Logistics Development Association. The company was also recognized in Business Weekly's "Top 100 Carbon Competitiveness" ranking, highlighting its commitment to climate action. Moreover, U-Ming was once again included in the 2024 TaiwanFINI100 list by the Taiwan Corporate Governance Association, demonstrating its outstanding performance in market, financial fundamentals, and sustainability, further establishing itself as a highly competitive international enterprise.

U-Ming operates a diverse fleet, including:

• Capesize, Panamax, Post-Panamax, and Ultramax bulk carriers
• Cement carriers
• Very Large Crude Carriers (VLCCs)
• Very Large Ore Carriers (VLOCs)
• Crew Transfer Vessels (CTVs) for offshore wind power
• Liquefied Natural Gas (LNG) carriers

With a total fleet capacity of 80 vessels and a combined deadweight tonnage of approximately 9.6 million tons, U-Ming’s fleet includes wholly owned, jointly owned, and under-construction vessels. The company also operates subsidiaries in Singapore, Hong Kong, and Xiamen; including U-Ming Marine Offshore Company Ltd in Taipei which focuses on green energy transportation.